Anheuser-Busch InBev SA (1NBA) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Anheuser-Busch InBev SA €76.62, price €64.86, upside +18.1%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Anheuser-Busch InBev SA
1NBA · XETRAUndervaluedThe stock appears undervalued with acceptable quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range €43.48 – €75.10 · fair‑value band €42.51 – €95.77 · the €64.86 price screens below the €76.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
Company profile
Anheuser-Busch InBev SA/NV produces and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through North America, Middle Americas, South America, EMEA, Asia Pacific, and Global Export and Holding Companies segments.
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Anheuser-Busch InBev SA/NV produces and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through North America, Middle Americas, South America, EMEA, Asia Pacific, and Global Export and Holding Companies segments. The company also offers flavored malt beverages, soft drinks, spirit-based ready-to-drink cocktails and beverages, and energy drinks. In addition, it operates BEES, a business-to-business digital commerce platform; on-demand delivery platforms under the Zé Delivery and TaDa Delivery brands; and premium at-home draft system under the PerfectDraft brand. The company provides a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona Extra, Michelob Ultra, and Stella Artois; Aguila, Brahma, Carling Black Label, Cass Fresh, Jupiler, Quilmes, SKOL, and Victoria; Beck's, Hoegaarden, and Leffe; Antarctica, Bud Light, Castle, Castle Lite, Cristal, Harbin, Modelo Especial, Sedrin, and Skol brands, as well as non-beer brands comprising Brutal Fruit, Cutwater, and NÜTRL brands. The company was formerly known as InBev SA and changed its name to Anheuser-Busch InBev SA/NV in November 2008. Anheuser-Busch InBev SA/NV was founded in 1366 and is headquartered in Leuven, Belgium.
Stock analysis
Anheuser-Busch InBev SA (1NBA) currently trades at €64.86, while our model-based Fair Value estimate is €76.62, implying the stock looks roughly 15.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €74.72 per share, and 11 of the 26 models we run sit above the €64.86 price.
Bear case: the Earnings-Based group reads lowest at €29.60, and 15 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: €42.51 (bear) to €95.77 (bull), the price of €64.86 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Anheuser-Busch InBev SA reported revenue of $61.7B in FY2025 versus $54.3B in FY2021, a compound +3.3%/yr. Reported net income was $7.1B in FY2025, compounding +11.1%/yr from FY2021.
Key figures
Market cap €129B · P/E ratio 22.1 · P/S ratio 2.54 · EPS (TTM) €3.17 · Dividend yield 3.5% · Net margin 11.5% · Return on equity 9.1% · Return on assets (EBIT) 6.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 3% fair-value upside, at 18%, 1NBA screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 63
Revenue & earnings trend
Growth Forecast
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Compare Anheuser-Busch InBev SA with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Beverages - Brewers · 52 stocks
Valuation Multiplesvs Beverages - Brewers median · lower = cheaper
Context: sector, industry, market
- Is the Consumer Staples sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Heineken N.V HEIA | €69.66 | €69.18 | −1% |
| Fomento Económico Mexicano, S.A. FMX | $118.85 | $28.57 | −76% |
| Heineken Holding HEIO | €65.30 | €64.09 | −2% |
| Constellation Brands, Inc STZ | $112.99 | $183.71 | +63% |
| Tsingtao Brewery Company 600600 | ¥49.89 | ¥63.71 | +28% |
| Molson Coors Beverage Company TAP | $35.95 | $79.18 | +120% |
| Beijing Yanjing Brewery Co 000729 | ¥10.78 | ¥11.10 | +3% |
| United Breweries Limited UBL | ₹1,158 | ₹141.82 | −88% |
| Royal Unibrew A/S RBREW | kr 411.40 | kr 662.99 | +61% |
| Guangzhou Zhujiang Brewery Co 002461 | ¥8.39 | ¥7.21 | −14% |
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Key figures of Anheuser-Busch InBev SA
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